Latest Episode

#49, Joe Thomas, Co-Founder and CEO of Loom — Why it’s essential to track your time; how to get better at fundraising; getting your head right to make good decisions; and how to decide to keep building your company, even if it means sleeping on a mattress

FSTG_PodcastEpisodeArtJoeThomas

Joe Thomas is the CEO and co-founder of Loom, the video communication platform for async work. Joe leads Loom in its mission to empower effective communication, wherever work happens. Prior to Loom, Joe served as Director of Product at MyLife.com and Director of Operations at MediaPass. He also co-founded Redesign Agency while in college at Indiana University.

While leading Loom, Thomas has been recognized by Forbes 30 Under 30, Forbes Cloud 100, and America’s Best Startup Employers.

When Joe Thomas started working on Loom, he and the team pivoted 3 times in 9 months. But they finally got the idea right, and now “Loom” is a noun, meaning “send me a video.” 

In this great discussion, Joe and I go deep in what it’s like to tinker with a concept over and over until you finally get it right. We discuss what he learned in his many “at bats” at fundraising, how and why he tracks his time, and the value that his meditation practice has brought to him as a CEO and as a human.

This new episode of From Start-Up to Grown-Up has so many pearls of wisdom from Joe – I hope you enjoy it as much as I did!

 

Key highlights in the episode

  • The foundational concepts of Loom (01:55) 
  • The Birth of Loom’s Insight: how they realized that people wanted to communicate using quick videos (04:45)
  • Why they chose the name Loom (08:26)
  • How they funded the startup within a limited time (11:52)
  • Fundraising tips to help you get better at fundraising (18:05)
  • The importance of cultivating relationships with investors as a CEO and Founder (22:02)
  • How Joe tracks his time and why it’s essential to track your time (24:07)
  • How to prioritize your responsibilities as a Founder CEO (26:41)
  • How to handle rejections in fundraising (31:07)
  • Why Joe believed it was crucial to define their cultural values when they were just a team of seven people (34:44) 
  • How cultural values have helped them run the company, even in challenging times (37:48) 
  • Joe’s meditation practice and how it has impacted his leadership style (46:09) 
  • The tools he uses for delivering tough feedback (52:08) 
  • How he has evolved both as a leader and as an individual in tandem with the company’s growth (55:12)
  • Async leadership bloopers and best practices (01:02:22) 
  • Joe’s experience with the impostor syndrome (01:06:14)
  • What Joe wishes he had known earlier on his journey (01:09:15) 
  • His advice for other founders as they embark on their journey to grow into leaders (01:10:56) 

 

Notable Quotes

  • “Values are good when times are good, but they are imperative when things are hard.” ~Joe Thomas  (37:47) 
  • “Your greatest strength is usually your greatest weakness.” ~Joe Thomas (50:43) 
  • “Feedback is a way of being somebody’s biggest cheerleader and fan.” ~Anique Drumright (54:02) 
  • “You’ve got to get out of your comfort zone in order to expand what’s possible for you in a comfortable way.” ~Alisa Cohn  (01:08:35) 

 

Love the show? Subscribe, Rate, Review, Like, and Share!

People Mentioned and Other Resources:

  1. Brian Halligan

 

Connect with Joe Thomas!

Follow Joe Thomas on:

Connect with Alisa!

Follow Alisa Cohn on:

Download her 5 scripts for delicate conversations (and 1 to make your life better) 

Check out her book at AlisaCohn.com/startup

If you like what you hear, please subscribe to the podcast!

Listen on:

Sign up for my newsletter and download my free 5 Scripts for Delicate Conversations PDF!

Click to subscribe

Alisa’s Book

Join Thousands of People on my email list!

And get my free tool: 5 Scripts for Delicate Conversations at Work

(Plus one bonus script to make your life better.)